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Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices Section II of the TA Business Plan Review. Emerging CDFI Applicants that receive a rating of High Risk in Section I of the TA Business Plan Review will not be considered for an award. Section I of the TA Business Plan Review is not applicable for Certified CDFI
Applicants. Emerging CDFI and Certified CDFI Applicants must receive a rating of Low Risk or Medium Risk in Section II of the TA Business Plan Review to be considered for an award.

Applicants that receive a rating of High Risk in Section II of the TA Business Plan Review will not be considered for an award. An Applicant that is a Certified CDFI will be evaluated on the demonstrated need for TA funding to build the CDFIs capacity, further the Applicants strategic goals, and achieve impact within the Applicants Target Market. An Applicant that is an Emerging CDFI will be evaluated on the Applicants demonstrated capability
and plan to achieve CDFI certification within three years, or if a prior Recipient, the certification PG&M stated in its prior Assistance Agreement. An Applicant that is an Emerging CDFI will also be evaluated on its demonstrated need for TA funding to build the CDFIs capacity and further its strategic goals.
The CDFI Fund will rate each part of the TA Business Plan Review as indicated in Table 17.

TABLE 17TA BUSINESS PLAN REVIEW
Business plan review component
Applicant type
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Section I:
Primary Mission
Financing Entity
Target Market
Accountability
Development Services
Section II:
Target Market Needs & Strategy
Organizational Capacity
Management Capacity

Each TA Application will be evaluated by one internal CDFI Fund reviewer. All Applications will be reviewed in accordance with CDFI Fund standard reviewer evaluation materials for the Business Plan Review.
The CDFI Fund conducts additional levels of due diligence for Applications that are under consideration for an award. This due diligence includes an analysis of programmatic and financial risk factors including, but not limited to, financial stability, history of performance in managing Federal awards including timeliness of reporting and compliance, reports and findings from audits, and the Applicants ability to effectively implement Federal requirements. The CDFI Fund will also evaluate the compliance risk of each Applicant using information provided in the Application as well as an Applicants reporting history, reporting capacity, and performance risk with respect to the CDFI Funds PG&Ms. Each Applicant will receive a Total Compliance Composite Score on a scale of one 1 to five 5, with one 1 being the highest rating. Applicants that receive an initial Total Compliance Composite Score of four 4 or five 5 will be re-evaluated by CDFI Fund staff. If the Applicant is deemed a high compliance risk after CDFI staff review, the Applicant will not be considered for an award. The CDFI Fund will also evaluate the Applicants ability to meet certification criteria of being a legal entity and a nongovernment entity. Award amounts may
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Emerging Emerging Emerging Emerging Emerging
CDFI
CDFI
CDFI
CDFI
CDFI

Ratings
Applicants
Applicants.
Applicants.
Applicants.
Applicants.

Low Risk, Medium Risk, or High Risk.

Emerging and Certified CDFI Applicants
Emerging and Certified CDFI Applicants.
Emerging and Certified CDFI Applicants.

Low Risk, Medium Risk, or High Risk.

be reduced as a result of the due diligence analysis in addition to consideration of the Applicants funding request and similar factors. Lastly, the CDFI Fund may consider the geographic diversity of Applicants when making its funding decisions.
6. Regulated Institutions: The CDFI
Fund will consider safety and soundness information from the Appropriate Federal or State Banking Agency. If the Applicant is a CDFI
Depository Institution Holding Company, the CDFI Fund will consider information provided by the Appropriate Federal or State Banking Agencies about both the CDFI
Depository Institution Holding Company and the Certified CDFI
Subsidiary Insured Depository Institution that will expend and carry out the award. If the Appropriate Federal or State Banking Agency identifies safety and soundness concerns, the CDFI Fund will assess whether such concerns cause or will cause the Applicant to be incapable of undertaking the activities for which funding has been requested.
7. Non-Regulated Institutions: The CDFI Fund must ensure, to the maximum extent practicable, that Recipients which are non-regulated CDFIs are financially and managerially sound, and maintain appropriate internal controls 12 U.S.C. 4707f1A
and 12 CFR 1805.800b. Further, the CDFI Fund must determine that an Applicants capacity to operate as a CDFI and its continued viability will not
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be dependent upon assistance from the CDFI Fund 12 U.S.C. 4704b2A. If it is determined that the Applicant is incapable of meeting these requirements, the CDFI Fund reserves the right to deem the Applicant ineligible or terminate the award.
B. Anticipated Award Announcement:
The CDFI Fund anticipates making CDFI
Program award announcement before September 30, 2021. However, the anticipated award Announcement Date is subject to change without notice.
C. Application Rejection: The CDFI
Fund reserves the right to reject an Application if information including administrative errors comes to the CDFI
Funds attention that: adversely affects an Applicants eligibility for an award;
adversely affects the Recipients certification as a CDFI to the extent that the award is conditional upon CDFI
certification; adversely affects the CDFI
Funds evaluation or scoring of an Application; or indicates fraud or mismanagement on the Applicants part.
If the CDFI Fund determines any portion of the Application is incorrect in a material respect, the CDFI Fund reserves the right, in its sole discretion, to reject the Application. The CDFI
Fund reserves the right to change its eligibility and evaluation criteria and procedures, if the CDFI Fund deems it appropriate. If the changes materially affect the CDFI Funds award decisions, the CDFI Fund will provide information about the changes through its website.
The CDFI Funds award decisions are
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